Tower Research Capital LLC TRC Cuts Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Tower Research Capital LLC TRC trimmed its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 10.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,411 shares of the technology company’s stock after selling 163 shares during the period. Tower Research Capital LLC TRC’s holdings in Tyler Technologies were worth $305,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TYL. TimesSquare Capital Management LLC raised its stake in shares of Tyler Technologies by 262.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 593,503 shares of the technology company’s stock worth $121,312,000 after buying an additional 429,720 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Tyler Technologies by 253.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 185,410 shares of the technology company’s stock valued at $40,052,000 after purchasing an additional 133,000 shares in the last quarter. BlackRock Inc. increased its stake in Tyler Technologies by 2.4% in the 1st quarter. BlackRock Inc. now owns 3,805,249 shares of the technology company’s stock valued at $777,794,000 after purchasing an additional 88,378 shares in the last quarter. Riverbridge Partners LLC increased its stake in Tyler Technologies by 26.6% in the 2nd quarter. Riverbridge Partners LLC now owns 406,943 shares of the technology company’s stock valued at $87,908,000 after purchasing an additional 85,579 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in Tyler Technologies by 18.6% in the 1st quarter. Blair William & Co. IL now owns 424,804 shares of the technology company’s stock valued at $86,830,000 after purchasing an additional 66,525 shares in the last quarter. 87.69% of the stock is owned by institutional investors and hedge funds.

In other news, Director Brenda A. Cline sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $256.91, for a total transaction of $1,284,550.00. Following the sale, the director now owns 7,099 shares in the company, valued at $1,823,804.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John S. Marr, Jr. sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $258.03, for a total value of $5,160,600.00. The disclosure for this sale can be found here. Insiders have sold 127,704 shares of company stock worth $32,713,354 in the last 90 days. Insiders own 4.40% of the company’s stock.

NYSE:TYL traded down $0.98 during trading hours on Friday, reaching $258.32. 214,034 shares of the company traded hands, compared to its average volume of 191,924. The firm’s 50-day moving average is $254.66 and its 200-day moving average is $225.49. The stock has a market cap of $9.97 billion, a P/E ratio of 69.07 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.00 and a quick ratio of 1.00. Tyler Technologies, Inc. has a 1-year low of $173.26 and a 1-year high of $262.99.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.05. Tyler Technologies had a return on equity of 11.44% and a net margin of 12.96%. The business had revenue of $275.10 million for the quarter, compared to analysts’ expectations of $274.88 million. During the same quarter last year, the firm earned $1.18 earnings per share. The business’s revenue was up 16.5% on a year-over-year basis. As a group, research analysts predict that Tyler Technologies, Inc. will post 4.19 earnings per share for the current year.

Several equities analysts recently weighed in on TYL shares. Northland Securities reaffirmed a “buy” rating on shares of Tyler Technologies in a research note on Thursday, August 1st. Needham & Company LLC raised their price objective on Tyler Technologies to $280.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Zacks Investment Research raised Tyler Technologies from a “sell” rating to a “hold” rating in a research note on Friday, July 5th. Benchmark raised their price objective on Tyler Technologies from $235.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, KeyCorp reiterated a “hold” rating on shares of Tyler Technologies in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $249.50.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.

Further Reading: The limitations of an equal weight rating

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Institutional Ownership by Quarter for Tyler Technologies (NYSE:TYL)

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